NIO (NYSE:NIO) Trading 1.1% Higher – Here’s Why

Nio Inc – (NYSE:NIO)’s stock price traded up 1.1% on Friday . The company traded as high as $4.71 and last traded at $4.66. 14,692,009 shares changed hands during trading, a decline of 74% from the average session volume of 56,699,371 shares. The stock had previously closed at $4.61.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on NIO. Wolfe Research started coverage on NIO in a research report on Thursday, September 5th. They issued a “peer perform” rating on the stock. Macquarie cut NIO from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $6.60 to $4.80 in a research note on Wednesday, November 20th. Bank of America boosted their target price on shares of NIO from $5.00 to $5.30 and gave the stock a “neutral” rating in a report on Thursday, September 5th. Citigroup cut their price target on shares of NIO from $8.50 to $7.00 and set a “buy” rating for the company in a research note on Wednesday, September 4th. Finally, Daiwa America raised shares of NIO to a “strong-buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $5.71.

NIO Stock Performance

The company has a current ratio of 1.04, a quick ratio of 0.93 and a debt-to-equity ratio of 0.98. The firm’s 50-day moving average is $5.32 and its 200-day moving average is $4.85. The firm has a market cap of $7.93 billion, a price-to-earnings ratio of -3.09 and a beta of 1.77.

NIO (NYSE:NIO) last released its earnings results on Thursday, September 5th. The company reported ($2.21) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($2.21). The company had revenue of $17.45 billion during the quarter, compared to analyst estimates of $17.49 billion. NIO had a negative return on equity of 113.83% and a negative net margin of 33.41%. NIO’s quarterly revenue was up 98.9% on a year-over-year basis. During the same period in the prior year, the company posted ($0.51) earnings per share. As a group, sell-side analysts anticipate that Nio Inc – will post -1.39 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC purchased a new stake in shares of NIO in the 3rd quarter valued at about $32,000. Ridgewood Investments LLC bought a new stake in NIO during the second quarter worth about $25,000. First Trust Direct Indexing L.P. bought a new position in shares of NIO during the 3rd quarter valued at about $76,000. Apollon Wealth Management LLC bought a new stake in NIO in the 3rd quarter worth approximately $78,000. Finally, Baader Bank Aktiengesellschaft purchased a new stake in NIO in the second quarter worth approximately $53,000. Hedge funds and other institutional investors own 48.55% of the company’s stock.

About NIO

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.